SELF-RELIANCE IS ABOUT STOPPING CORPORATE DRIVEN BEHAVIOR
Time to Fight The Corporate Marketing Manipulation
44 Minutes, 33 Slides
Our dependency on corporate promotions is trapping us into behavior that results in us slowly, unwittingly and irresponsibly giving up our financial freedom and therefore our Self-Reliance!
HERE ARE A FEW EXAMPLES OF HOW:
- The cord-cutting movement was originally marketed to budget-minded media consumers who were fed up with overpriced cable packages. Over time, though, many wound up paying as much or more for the ever-growing assortment of streaming services that households have to cobble together to replace traditional TV.
- “The era of subscription services has ushered in a subtle yet pervasive trap — subscription creep.”
- “Frugal individuals might sign up for multiple low-cost subscriptions, thinking they’re insignificant, but the cumulative effect can drain finances steadily over time.
- It’s important to recognize the need to regularly assess and eliminate redundant subscriptions.”
CONVENIENCE: When Payments Happen Automatically They Count on Your Time Pressures for lack of Management
- Thrifty people love a deal above almost all else, but the lure of markdowns can cause even the most cautious spenders to fritter away money on things they didn’t need.
- “Sales and discounts can be enticing, but they often lead to overspending when consumers perceive them as ‘savings.“
- Frugal individuals might fall into the trap of buying unnecessary items simply because they are on sale.
- Recognizing the psychology behind perceived savings versus actual spending is key to avoiding this deceptive pitfall.”
DECEPTION: Sale prices removes our responsibility for price comparison and knowing the real price
- The fast way is almost always more expensive than the right way, but the temptation to cut corners is everywhere and, therefore, hard to resist for even the stingiest among us.
- “The allure of convenience, from food delivery services to ready-made meals, can subtly erode a frugal mindset.”
- “While time-saving conveniences are tempting, they often come with a hefty price tag.
- Evaluate the true cost of convenience to avoid sacrificing financial prudence for momentary ease.”
CONVENIENCE: Sacrificing financial prudence for momentary ease.
- Spending more as you earn more is not a hallmark of the thrifty mindset, but even the most prudent spenders can fall into this trap because lifestyle creep happens so gradually.
- “Individuals, even frugal ones, may succumb to lifestyle inflation without realizing it.”
- “Gradual upgrades in housing, vehicles, or even dining habits may seem inconspicuous, but they can significantly impact long-term financial goals.”
EGO: "You Deserve it", "You Have Earned It", Live Life Now on Your Terms"
are Corporate Entrapment Engineered Slogans
- The most disciplined spenders have feelings too, and feelings have a way of steering spending plans off course.
- “Even frugal individuals are susceptible to emotional spending, using purchases as a coping mechanism for grief, stress, boredom, or sadness.”
- “Recognizing the emotional triggers behind spending is crucial for maintaining financial discipline.
- Behavioral cues can serve as warning signs to redirect emotional impulses toward healthier outlets.”
EMOTIONAL TRIGGERS: Corporate Marketing is about understanding your Emotional Triggers!
THE GAMBLER'S FALLACY
- “Don’t throw good money after bad” is an idiom that reminds gamblers to cut their losses when their luck turns sour so they don’t fall victim to the dreaded “one more hand” mindset. This concept applies beyond the blackjack table.
- “Engaging in speculative investments or chasing losses in the hope of recouping money lost is a behavioral trap known as the gambler’s fallacy.”
- “Frugal individuals may be drawn into risky financial decisions under the illusion that past losses increase the likelihood of future gains.
- Advocate and Adopt a rational and diversified investment approach.
FEAR OF MISSING OUT: Trading Markets Increasingly Play the proven game of entrapment called FOMC - Fear of Missing Out
SOCIAL COMPARISON SYNDROME
- Even the most pennywise spenders have neighbors, friends and social media accounts — and the pressure to keep up with the Joneses can be too much even for them to resist.
- “Frugal individuals may fall prey to the subtle trap of social comparison, feeling pressured to match the spending habits of peers or societal expectations.”.
- “It’s important to stay true to individual financial goals and values, resisting the urge to conform to external pressures.”
PEER PRESSURE: Corporate Marketing 101 is Creating the Pressure of "Keeping Up With the Jones" or
being the "In person with the latest thing, fashion or status symbol.
SAVING MONEY WITHOUT SAVING IT
- it is essential to remember that frugal spending is only one piece of the personal finance puzzle.
- Penny-pinching won’t pay off in the long run if an obsession with saving money comes at the expense of saving for the future.
- “Even those who meticulously manage day-to-day expenses may neglect long-term financial planning, especially when it comes to retirement contributions.”
- “Consider the long-term impact of not maximizing retirement savings, especially the power of compound interest over time.”
FALSE SPENDING ENTICEMENTS: Saving is of no value in todays inflationary world unless you both understand and take full advantage of Compound Interest versus corporate spending enticements!
DEBT IS THE WORLD'S OLDEST FORM OF ENTRAPMENT & ENSLAVEMENT